Events and Updates

Title: SFIO finds extreme misuse of corporate structure in Bhushan Steel case

Posted on: 2nd July 2019

Bhushan Steel had defaulted on loans and the banks had to take a haircut of more than Rs 20,000 crore as part of the resolution process. 

NEW DELHI: The Serious Fraud Investigation Office (SFIO) Monday filed a 70,000-page complaint in the Bhushan Steel case wherein the probe agency has found "extreme misuse" of the corporate structure by the promoters which reduced corporate governance requirements to paper formalities, sources said.